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Agricultural Insurance in the UK - Industry Market Research Report

Publisher IBISWorld
Published Oct 04, 2024
Length 69 Pages
SKU # IBSS19342504

Description

Agricultural Insurance in the UK - Industry Market Research Report


Agricultural Insurance in the UK

Insurers in the Agricultural Insurance Industry have had to contend with poor investment returns, volatility in underwriting returns and dampened demand amid the COVID-19 outbreak. Global warming seems to be making its mark with the frequency of natural disasters, particularly flooding, on the rise, driving up claims volumes. Another bone of contention for insurers is having to follow the Solvency II directive before Brexit. The accumulation of such difficult conditions has led smaller insurers in the industry to diversify and focus on other high-margin insurance markets. Despite this, industry-wide revenue has still grown at a compound annual rate of 1% to £1.6 billion over the past five years, including growth of 1.6% in 2022-23.

Firms in this industry provide agricultural insurance, also known as farm or crop insurance. Agricultural insurance is purchased by agricultural producers to protect against either the loss of their crops due to natural disasters, such as hail, drought and floods, or the loss of revenue due to farm-specific risks.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."

Table of Contents

69 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Major Markets
Globalisation & Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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